New Rules : Stealing GST data and committing fraud in GST will not be easy now. From April 1, the Multi Factor Authentication (MFA) rule is going to be implemented for all users registered in GST.
With the implementation of MFA, it will not be easy to steal the data of any other user using GST and to commit any kind of fraud in GST.
Update number on GST portal
Under MFA, users will not be able to log in without a One Time Password (OTP). Therefore, all users should update their phone numbers on the GST portal this month so that there is no problem in receiving the OTP.
Mandatory for all users from April 1
MFA was implemented on an experimental basis for those with a turnover of more than Rs 20 crore from January 1 this year. Then, it was made mandatory for those with a turnover of Rs 5 crore from February 1. Now, it is being made mandatory for all users from April 1.
New update for traders
The rules of e-way bill are also being changed from April 1. From April 1, it will be mandatory for businessmen with a turnover of more than 10 crores to provide information about their e-invoices on the Invoice Registration Portal (IRP) within 30 days. If the information is not provided within 30 days, the invoice will be rejected. Currently, this rule is applicable for businessmen with a turnover of 100 crores and above.
Eating in hotel restaurants can be expensive
Eating in hotel restaurants may get a little expensive from April 1. From April 1, hotels with room rent less than Rs 7500 will be able to avail input tax credit (ITC) along with 18% GST.
At present, food in the restaurants of hotels where the room rent is less than Rs 7500 is charged 5% GST. If these hotels adopt the facility of ITC along with 18% GST, then food in the restaurants here will become expensive.
From April 1, 18% GST will be levied on the sale of old normal and electric cars instead of 12%. This rule will be applicable for agencies selling second-hand cars.
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